1128 Masselin Ave

Los Angeles, CA 90019

$2,845,000
Last Sold Price
12
Beds
12
Baths
9,206 Sq. Ft.
$309 / Sq. Ft.
9,206
Sq. Ft.
$309
per Sq. Ft.

Description

Investor gold in Miracle Mile: 1128 Masselin Ave is a pride-of-ownership 12-unit (all 1-bed/1-bath) on an oversized 12,493 sqft LAR3 corner lot that's been family-held and meticulously maintained for 30 years. Three separate entrances and stairwells serve four units each (condo/TIC exit potential), beautiful hardwood floors, updated dual-pane windows, a lush courtyard, on-site laundry and nine private garages (prime ADU/play) keep tenants happy while delivering scheduled gross rent of $286,860/yr,...Investor gold in Miracle Mile: 1128 Masselin Ave is a pride-of-ownership 12-unit (all 1-bed/1-bath) on an oversized 12,493 sqft LAR3 corner lot that's been family-held and meticulously maintained for 30 years. Three separate entrances and stairwells serve four units each (condo/TIC exit potential), beautiful hardwood floors, updated dual-pane windows, a lush courtyard, on-site laundry and nine private garages (prime ADU/play) keep tenants happy while delivering scheduled gross rent of $286,860/yr, a 10.44 GRM and 6.67 % cap at full occupancy with more upside as legacy rents burn off ($5.39 Actual Cap Rate FY2024). Major systems are in great shape, OPEX is lean (~$87K/yr), and zoning + lot depth invite densification or future redevelopment. Irreplaceable Mid-Wilshire location steps to LACMA, The Grove and Museum Row, and two new Purple-Line Metro stations (.9 & 1.1mi) land next year, super-charging demand and appreciation. At $249K/door this asset checks every box: cash flow, value-add levers and transit-oriented growth in one of LA's most sought-after rental corridors.
  1. Listed by James Respondek • DRE #00713972 • Brokerage DRE #00858724 • Rodeo Realty - Pacific Palisades
  2. Listed by Evan Conover • DRE #02088595 • Brokerage DRE #00858724 • Rodeo Realty - Pacific Palisades

Property Details for 1128 Masselin Avenue

Zoning
LAR3
Style
Low Rise
Parcel Number
5085005010
Total Units
12.0
Living Area
9206
Source Living Area
Vendor Enhanced
Area
Beverly Center-Miracle Mile (C19)
Vacancy Rate
2
LISTING UPDATED: 07/03/2025 08:46 AM

Property Details for 1128 Masselin Avenue

StatusSold
MLS #25529795
Days on Market6
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
Lot Size0.29 AC / 12,497 SF
CountyLos Angeles County

Location

Listing Courtesy of Rodeo Realty - Pacific Palisades, James Respondek, DRE #00713972; Rodeo Realty - Pacific Palisades, Evan Conover, DRE #02088595

Sold By Rodeo Realty - Pacific Palisades, Evan Conover, DRE #02088595; Rodeo Realty - Pacific Palisades, James Respondek, DRE #00713972

Add your commute

Building Information for 1128 Masselin Avenue

Stories2Residences-Year Built1948Building Size-Lot Size0.29 AC / 12,497 SF

Payment Calculator

$15,644 per month

30 year fixed, 6.845% Interest

Principal and Interest

$14,906

Property Taxes

$738

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1128 Masselin Avenue

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
  • Management Company Name: Mashcole
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: 1
  • Security Features: Gated
Contract Info
Contract Info
  • Disclosures: Other
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $248,490
  • Net Operating Income: $161,345.00
  • Gross Income: $248,490
  • Cap Rate: 5.39%
  • Gross Rent Multiplier: $12.05
  • Actual Annual Gross Rent: $248,490.00
  • Actual Gross Annual Income: $248,490
  • Other Income1: $248,490.00
  • Actual Rent Total: $20,708.00
  • Vacancy Allow Dollar: $2,880.00
  • Vacancy Allow Percent: 1.10%
  • Total Annual Expense: 87146
  • Water Expense: $7,399.00
  • Gas Expense: $491
  • Trash Expense: $4,761.00
  • Tax Expense: $7,000
  • Insurance Expense: $31,600
  • Expense Operating: $2,720.00
  • Management Expense: $10,120.00
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2869
  • Lot Size Square Feet: 12497
  • Lot Size Dimensions: 119x105
  • Source Lot Size Dimensions: Assessor
Parking Details
Parking Details
  • Parking Garage: Garage - 4+ Car
  • Total Parking: 9
  • Covered Parking: 9
  • Garage Spaces Total: 9
  • Garage Structures Total: 9.0
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating Type: Floor
  • Flooring: Wood
  • Equipment: Other
  • Laundry: Community
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Accessory Bldgs, Other
Lease Terms
Lease Terms
  • Entry Date: 04-25-2025
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,950.00
  • Unit Actual Rent: $19,505.00
  • Unit Projected Rent: $27,540.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $266,649.00
  • Assessed Improvement Percent: 44.3
  • Assessed Land Value: $335,306.00
  • Assessed Land Percent: 55.7
  • Assessed Total Value: $601,955.00

Property History for 1128 Masselin Avenue

DateEvent & SourcePriceAppreciation
Jun 17, 2025

Sold

CLAW #25529795

$2,845,000—
Jun 17, 2025

Sold

CRMLS #25529795

$2,845,000—
May 28, 2025

Sold (Public Record)

Public Record #1902051036

$2,845,000—
May 1, 2025

Pending

CRMLS #25529795

—
May 1, 2025

Pending

CLAW #25529795

—
Apr 25, 2025

Listed (Active)

CRMLS #25529795

$2,995,000—
Apr 25, 2025

Listed (Active)

CLAW #25529795

$2,995,000—
DateEvent & SourcePrice
06/17/2025

Sold

CLAW #25529795

$2,845,000
06/17/2025

Sold

CRMLS #25529795

$2,845,000
05/28/2025

Sold (Public Record)

Public Record #1902051036

$2,845,000
05/01/2025

Pending

CRMLS #25529795

—
05/01/2025

Pending

CLAW #25529795

—
04/25/2025

Listed (Active)

CRMLS #25529795

$2,995,000
04/25/2025

Listed (Active)

CLAW #25529795

$2,995,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1128 Masselin Avenue

Taxable ValueLand$335,306Additions$266,929Total$602,235
Tax Record2024$8,854 ($738 / month)
Home Facts
Total Finished SqFt9,206 SqFtAbove Grade Finished SqFt9,206 SqFtLot Size12,493 SqFtStyleMulti-Family Res (5+ Units)Year Built1948ZoningLAR3CountyLOS ANGELESAPN5085-005-010

Schools near 1128 Masselin Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Wilshire Crest Elementary School
PublicK to 5

New Los Angeles Charter School
Charter6 to 8

Fairfax Senior High School
Public9 to 12

Los Angeles Center For Enriched Studies
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Rodeo Realty - Pacific Palisades, James Respondek, DRE #00713972; Rodeo Realty - Pacific Palisades, Evan Conover, DRE #02088595

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.